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The 4 dangers facing business today
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The 4 dangers facing business today

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4 dangers that face business yesterday, today and tomorrow. Find out what they are and what you can do about them.

4 dangers that face business yesterday, today and tomorrow. Find out what they are and what you can do about them.

Published in: Business, Education
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  • 4300 UK companies between 1965 and 1998. HP = HP filtered UK series of output per capita data represents the business cycle
  • Transcript

    • 1. 4 Dangers Facing Business
    • 2. Business should be a well oiled machine
      But … todays business challenges…
      • Just keeping business going
      • 3. Operational ineffectiveness
      • 4. Lack of focus
      • 5. Time mis-management
    • The fear of going out of business
    • 6. Business is cyclic: plan for it
      Business Failure in UK and US Quoted Firms: Impact of Macro-economic and The Role of Legal Systems (2003), A Bhattacharjee, c. Higson, S. Holly, P. Kattuman
    • 7. Northwest business bankruptcies
    • 8. Liquidations to Q1 2011
      • 4,121 liquidations Q1 2011
      • 9. 3.7% more than previous quarter
      • 10. 2.1% more than Q1 2010
    • Operational Ineffectiveness
    • 11. Operational Mess
      No SMART goals
      Lacks executive focus
      Not understanding consumers
      Knee jerk discounting
      Poor time management
    • 12. A business has SMART goals if…
      SMARTER goals have “emotional resonance”
    • 17. Lack of Focus
      No business strategy
      Continual fire fighting
      Meetingitis
      No marketing/sales calendar
    • 18. Business must understand consumers
      • "Slam on the brakes“
      • 19. "Pained but patient“
      • 20. "Comfortably well-off“
      • 21. "Live for today"
      “How To Market In a Downturn”, Harvard Business Review April 2009 - JA Quelch & KE Jocz
    • 22. Knee jerk discounts may affect your business health
      Gross profit is 50%
      Cost is £10 retails at £15, profit £5
      10 sales gets 10x£5 = £50 profit
      • Discount by 15%
      • 23. Sale price is £12.75, profit is £2.75
      • 24. Have to sell 18x£2.75 to get £49.50 profit
      8 extra sales required!
    • 25. Traits of a pretty poor time manager
      Works more than 50 hours a week
      Few specific goals or deadlines
      Usually not meeting deadlines
      Makes ill-thought out decisions
      Stressed
      No real social life
      No time for exercise
      Fear of delegation
      Messy desk
      Procrastination
    • 26. Parkinson’s Law
      “Work expands so as to fill the time available for its completion”
      Cyril Parkinson, 1957
    • 27. Resolving Business Dangers
      Create a business strategy
      Address the 5-6 key issues
      Produce a pragmatic “vital few” plan
      Improve time management
      Keep executive and team focus
    • 28. Focusing on the “one”
      Training gives 22.4% increase
      Training plus coaching gives 88% increase
      Public Personnel Management, Winter 2007, Vol 20, Issue 4
    • 29. “The time to repair the roof is when the sun is shining”
    • 30. Business Action Programme
      Steps
      Growth questionnaire
      Strategic view
      KUTA matrix
      Time management workshops
      Weekly business focus
    • 31. Jim Symcox
      Business growth evangelist for the last 11 years
      Trained by Chet Holmes, Tony Robbins and Jay Abraham
      Help Tony and Chet’s clients worldwide
      Helped grow businesses on NWDA High Growth programme
    • 32. What others say…
      Top qualities: Great Results, Personable, Creative
      “I have worked with Jim on a regular basis in the past 12 months and he has provided me and my company with some invaluable advice, particularly in the field of business strategy and marketing. Jim has a wealth of experience that has really helped my company grow during very difficult economic times.” Duncan Freer
      Top qualities: Personable, Expert, Creative
      “We welcome this opportunity to recommend Jim from Business Powerpack Limited as both as a speaker & workshop leader. . At our recent Digital Matters events, at various events aimed the Digital, Creative and ICT sector, he has always provided detailed and thought provocative presentations which are littered with excellent realistic pointers and practical tips in helping to drive business activities forward. His presentations are always concise and designed to meet the brief. His presentation clearly demonstrated his depth of knowledge and understanding of the needs of the small businesses.” Les Selby
    • 33. Contact Details
      Jim Symcox
      Tel: 07963768114
      Email: Jim@acornservice.com
      Web site: http://www.business-powerpack.com
      Author of “how to leap ahead of your competitors”

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